The Iowa Transportation Commission approved the FY2010-2014 Iowa Transportation Improvement Program at its meeting this morning in Cedar Falls. The program sets the five-year investment priorities for the state’s multimodal transportation system, which has been bolstered by Gov. Chet Culver’s I-JOBS initiative as well as federal recovery funds. The total amount of federal and state funds forecasted to be available for highway right-of-way acquisition and construction during FY2010 through FY2014 is $2.1 billion. The approved FY2010-2014 program is posted on the Iowa DOT’s Web site, www.iowadot.gov

Wells Fargo & Co. “rode the stagecoach from hell” as it targeted blacks in Baltimore and suburban Maryland for costly subprime loans during the housing boom, former Wells Fargo lender Beth Jacobson told The New York Times. The city of Baltimore is suing Wells Fargo over its mortgage lending practices in black neighborhoods. The city claims that the bank’s mortgage practices eventually pushed several homeowners into foreclosure, costing the city millions in services and lost taxes. Wells Fargo officials said the suit “absolutely lacks merit,” and also denied claims in the suit that the company’s loan officers used derogatory terms to refer to blacks.

Eurofins Scientific Inc., which has its U.S. headquarters in Des Moines, announced Monday it has acquired Strasburger & Siegel Inc., a food-testing laboratory based in Hanover, Md. The acquisition strengthens Eurofins’ growing U.S. presence, particularly in the poultry, seafood, juice, spice and cocoa testing markets, as well as providing a base of operations on the East Coast, the company said in a press release. Eurofins, which operates more than 150 laboratories worldwide, provides analytical support to the global agri-food market.

New research released from the Principal Financial Well-Being Index indicates that American workers see glimmers of hope that the economy is headed in a more positive direction. Expectations that the economy will get worse by the end of 2009 dropped significantly from the first quarter to the second quarter, from 24 percent to 18 percent. More than one-third of workers (37 percent) and 31 percent of retirees expect the current economic crisis to be better by the end of 2009. Renewed confidence has emerged, with 41 percent of workers saying it will take only two to five years to recover the retirement balances they had at the beginning of January 2008. Although 15 percent think it will take six to 10 years, only 3 percent of workers think they will never recover their account balance.

Three groups have entered bids for Saab, General Motors Corp.’s Swedish car unit, and a preferred bidder is to be chosen by the end of this week, Reuters reported from a Financial Times story. The newspaper said Swedish luxury sports car maker Koenigsegg and Ira Rennert’s Renco Group were among the suitors, as well as Merbanco, a group of investors from Wyoming. GM is to finance the spinoff with $500 million in assets and cash, plus production equipment for a new Saab model as well as $150 million of cash already in Saab’s account. Under the deal, the new owner is to pay GM back if it succeeds in turning Saab around, the report said. The Swedish carmaker, which first sought protection from creditors in February, was granted an extension of its business reorganization until Aug. 20 to line up a new owner and restructure. Saab has said it was hopeful a final deal could be agreed upon before mid-June.

The Des Moines Arts Festival has partnered with Greater Des Moines Habitat for Humanity to build a house at Western Gateway Park during the art show. The three-day Blitz Build will begin with an official wall raising at noon on June 26. Festival guests can get involved in the action by helping to paint “Doors to a Brighter Future” at the building site. Doors purchased from Habitat for Humanity’s ReStore will feature unique paint-by-number designs created by volunteers from Principal Financial Group Inc. By Sunday, the exterior of the house will be complete and guests will be able to tour the interior before it is hooked up to a truck and driven to its permanent location at 1317 College St. in Des Moines.